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TV Commerce Hldgs (EDL)

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Tuesday 30 September, 2008

TV Commerce Hldgs

Results of AGM and EGM and Fi

RNS Number : 7042E
TV Commerce Holdings PLC
30 September 2008
 



TV COMMERCE HOLDINGS PLC


RESULTS OF AGM AND EGM

AND 

FINANCING UPDATE



TV Commerce Holdings plc (the 'Company'), held its annual general meeting today and all resolutions were duly passed.


In accordance with Schedule 2(j) of the AIM Rules, details of the Company's investing strategy is available on the Company's website, www.tvcommerce.co.uk.


RESULT OF EGM


Following the annual general meeting, the Company held its extraordinary general meeting today and all resolutions were duly passed.


FINANCING UPDATE


On 5 September 2008, the Company announced that it had requested that its shares be temporarily suspended from trading on AIM pending clarification of the Company's financial condition. The Board of the Company now announces that, following the EGM held earlier today the Company has raised £200,000, before expenses by way of a subscription of 1,000,000,000 new ordinary shares of 0.02p per share, conditional on Admission.  Admission and dealings in the new ordinary shares are expected to commence on 1 October 2008.


The Board of the Company has reviewed the Company's financial condition, as well as the Company's currently anticipated future working capital requirements, and confirms that the Company's financial condition and working capital are adequate for its current requirements.  Accordingly, the Company has requested that trading in the Company's shares on AIM be restored with immediate effect.



For further information please contact:



Vince Stanzione, CEO


TV Commerce Holdings plc


Tel: 013 4484 5000

David Newton/Aaron Smyth

Nominated Adviser


Dowgate Capital Advisers Ltd


Tel: 020 7492 4777

Neil Badger, Broker


Dowgate Capital Stockbrokers Ltd


Tel: 012 9351 7744




This information is provided by RNS
The company news service from the London Stock Exchange
 
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